Damned if he does. Damned if he doesn't!

eed a tough one. Since the coalition came to power, the UK's national output has only risen by 1% instead of the 7% predicted by Mr Osborne in his first budget.

He's hellbent on reducing the deficit inherited from the legacy of the previous government - and there's some merit in that stance - but there's wide opinion that you can't 'save' yourself out of recession, you can only grow out of it.

I have some sympathy with Mr Osborne's plight - at least he's got a plan - but I'm starting to question his somewhat blinkered approach. I think higher growth is definitely worth the long-term cost of higher spending.

Let's see what he comes up with today!